M&A Deal Summary

Cardinal Equity Partners and Centerfield Capital Partners Acquire DuraMark Technologies

On December 1, 2021, private equity firm Cardinal Equity Partners and mezzanine finance firm Centerfield Capital Partners acquired business services company DuraMark Technologies

Acquisition Highlights
  • This is Cardinal Equity Partners’ 1st and Centerfield Capital Partners’ 7th transaction in the Business Services sector.
  • This is Cardinal Equity Partners’ 23rd and Centerfield Capital Partners’ 72nd transaction in the United States.
  • This is Cardinal Equity Partners’ 9th and Centerfield Capital Partners’ 11th transaction in Indiana.

M&A Deal Summary
Date 2021-12-01
Target DuraMark Technologies
Sector Business Services
Buyer(s) Cardinal Equity Partners
Centerfield Capital Partners
Deal Type Recapitalization

Target

DuraMark Technologies

Westfield, Indiana, United States
DuraMark Technologies is a provider of durable safety labels, branding decals, and label kits to many of America’s top OEMs. Specializing in labels used in outdoor and other challenging work environments, DuraMark provides its customers with the industry’s best turnaround times while maintaining exemplary quality standards. DuraMark Technologies was founded in 2007 and is headquartered in Westfield, Indiana.

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Buyer(S) 2

Buyer

Cardinal Equity Partners

Indianapolis, Indiana, United States

Investor Investor Investor

Category Private Equity Firm
Founded 1993
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Cardinal Equity Partners is a privately owned partnership that targets investments in lower middle-market businesses headquartered in the central portion of the US. Cardinal looks for light manufacturing, distribution, or service businesses with $5 to $50 million in revenue and at least $1 million of EBITDA. Prospective transaction situations include management buyouts, recapitalizations, family successions, and corporate spin-offs. Cardinal prefers businesses with proven management, recurring revenue, and no major customer concentration issues. Cardinal will not invest in software, heavy manufacturing, automotive, consulting, or companies with a significant percentage of non-US sales. Cardinal Equity Partners was formed in 1993 and is based in Indianapolis, Indiana.

DEAL STATS #
Overall 23 of 24
Sector (Business Services) 1 of 1
Type (Recapitalization) 6 of 6
State (Indiana) 9 of 10
Country (United States) 23 of 24
Year (2021) 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-06-07 Red Apple Cheese

Barron, Wisconsin, United States

Red Apple Cheese is an omni-channel market leader in smoked, flavored, and kosher all-natural cheese. With roots in both Wisconsin’s dairyland and New England, Heartisan brings time-honored cheesemaking traditions to each piece of cheese using decades of family experience. Red Apple utilizes a slow, meticulous, cold-smoking process with specially aged apple pulp and hardwood to create the perfect cheese. Red Apple Cheese was founded in 1991 and is based in Barron, Wisconsin.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-12-02 Gillette Generators

Elkhart, Indiana, United States

Gillette Generators is a Midwest-based manufacturer and supplier of premium standby backup and prime power generators for agricultural, commercial, industrial, and critical infrastructure end-users. Gillette Generators is based in Elkhart, Indiana.

Buy -
Buyer

Centerfield Capital Partners

Indianapolis, Indiana, United States

Investor Investor Investor Investor Investor

Category Mezzanine Finance Firm
Founded 2001
PE ASSETS 1.0B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Centerfield Capital Partners is a private investment firm that provides subordinated debt and equity capital to mid-market companies. Prospective transactions include acquisition financings, management buyouts, shareholder liquidity needs, recapitalizations, corporate divestitures, ESOP financings, and sponsored/unsponsored transactions. Centerfield generally invests in companies with sales of $15 to $100 million and EBITDA of $3 to $15 million. Target sectors include manufacturing, business services, healthcare services, and transportation/distribution. Centerfield will not invest in early stage businesses, turnaround situations, retail, real estate, and finance companies. Centerfield Capital Partners was founded in 2001 and is based in Indianapolis, Indiana.

DEAL STATS #
Overall 72 of 78
Sector (Business Services) 7 of 7
Type (Recapitalization) 15 of 15
State (Indiana) 11 of 11
Country (United States) 72 of 78
Year (2021) 5 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-10-25 Cosmic Pet

Wichita, Kansas, United States

Cosmic Pet is a designer, marketer, and distributor of pet products, including toys, beds, collars and leashes, treats, feeders and bowls, and other accessories. Cosmic Pet is based in Wichita, Kansas.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-12-31 Century Drill & Tool

Green Bay, Wisconsin, United States

Century Drill & Tool is a supplier of branded power tool accessories and hand tools for contractors, trades professionals, and DIY users across multiple retail segments. Century Drill & Tool is based in Green Bay, Wisconsin.

Buy -
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